By: The Working Forest Staff
The volume of hardwood veneer and plywood imports in the U.S. totaled 2.8M cubic meters (IndexBox estimates) in 2019, decreasing significantly for the second consecutive year. As mentioned above, the decrease is caused by a deep slump in supplies from China which has not yet been compensated by other supplying countries. In value terms, it amounted to $1.7B in 2019.
In terms of supplying countries, Viet Nam (555K cubic meters), Indonesia (441K cubic meters), Russia (432K cubic meters), and Canada (411K cubic meters) were the main suppliers of hardwood veneer and plywood imports to the U.S., together accounting for 62% of total imports. Imports from Viet Nam soared over 2018-2019, filling a gap that appeared on the market after the Chinese plywood been pushed off. Imports from Brazil, Cambodia, and Spain also increased due to the same reason.
In value terms, the largest hardwood veneer and plywood suppliers to the U.S. were Viet Nam ($362M), China ($340M), and Canada ($302M), with a combined 45% share of total imports. These countries were followed by Indonesia, Russia, Cambodia, Malaysia, Spain, Brazil, Ecuador, Italy, and Uruguay, which together accounted for a further 43%.
The average hardwood veneer and plywood import price stood at $742 per cubic meter in 2019, with a decrease of -11.6% against the previous year. Over the period from 2013 to 2019, it increased at an average annual rate of +2.0%. The pace of growth appeared the most rapid in 2018 when the average import price increased by 19% year-to-year. As a result, import price reached the peak level of $839 per cubic meter and then declined in the following year.
Prices varied noticeably by the country of origin; the country with the highest price was Cambodia ($1,310 per cubic meter), while the price for Uruguay ($285 per cubic meter) was amongst the lowest.
From 2013 to 2019, the most notable rate of growth in terms of prices was attained by China, while the prices for the other major suppliers experienced more modest paces of growth.
Companies Mentioned in the Report
Columbia Forest Products, Smith Family Companies, Veneer Technologies, States Industries, Decorative Panels International, Mt. Baker Products, Rutland Plywood Corp., The Freeman Corporation, Marion Plywood Corporation, David R. Webb Company, Nmsa, International Timber and Veneer, Miller Veneers, Amos-Hill Associates, Swaner Hardwood Co., Manthei, Murphy Company, Ferche Millwork, Standard Plywoods Incorporated, Swanson Group Mfg., Coldwater Veneer, Birchwood Lumber & Veneer Co., Plycraft Industries, Bessemer Plywood Corp., Davis Wood Products, Timber Products Michigan Limited Partnership, Danzer Services, Northern Michigan Veneers, Columbia Plywood Corporation, Plum Creek Northwest Plywood, Coastal Plywood Company, Ivc USA Inc.
Source: IndexBox AI Platform